Of the three major indexes we track: DOW, NASDAQ and the S&P 500, only the NASDAQ is in thin air.
What do I mean by thin air? So far the NASDAQ is the only index to make it past the 50% Fibonacci retracement levels as measured from the highs seen in 2007 and the lows that were made in March of this year.
Both the Dow and the S&P 500 have rallied strongly from their March lows but have not made it over the 50% retracement level.
Many professional traders - myself included - are looking at the NASDAQ's Fibonacci retracement as it represents a potentially key turning point for this year's market.
Continue reading "Is The NASDAQ Now In Thin Air?"
Check out my new video where you will find precise turning points on the major indices. You will also see and hear where we expect the major indices to head in the next six to twelve months.
Click here to watch.
Let me know what you think. You can leave your comments right here on this blog.
Enjoy the video.
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